I only study the IC design for 2 years in school and work for near 1 year. In the other words, I'm not the experienced enough.
However, I can share you with some of my experience until now.
First, the most of all, the fastest operating frequency is based on the complexity of your design.
There are many techniques to enhance the clock frequency such as pipeline, retiming and so on.
But it costs lots of efforts to optimize the design in hierarchy level instead of tool optimization.
For dedicated design, we can push the design operating at 125 MHz for 350 nm process.
( of course, we need to search for the faster hierarchy instead of direct computation )
But for general case , the students ( as TA then ) will design a circuit operated at about 50 MHz.
for general case, the design is targeted at 100 MHz for 180 nm process.
However, 100 MHz is the baseline for 90 nm process. They can be targeted at 160-200 MHz.
for 55nm process, it seems that we can enhanced the design to 300 MHz if there is no memory or macro for tightly timing closure.
The above is all I have experienced. It's not criteria of design guideline.
Currently, I don't the know what is the criteria for a effective design yet.
Hope the one interested in this topic would share your design experience.
Best Regards,
PoLo